Total U.S. weekly rail traffic continued its slide for the week ending March 19, with carloads falling 17.2 percent to 235,390, and intermodal volume declining 10.7 percent to 248,073 containers and trailers compared with traffic during the same week in 2015, according to the Association of American Railroads (AAR).
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Trucking delivered some good news this week to those yearning for spring and signs of faster economic growth. U.S. truck tonnage leaped 7.2 percent in February, after declining a revised 0.3 percent in January, the American Trucking Associations said March 22.
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February volumes at the Port of Los Angeles (POLA) and the Port of Long Beach (POLB) continued the strong momentum that kicked off 2016 in January, according to data respectively issued by the ports last week.
Price indexes for U.S. imports and exports dropped 0.3 percent and 0.4 percent month-over-month, respectively, according to the United States Department of Labor’s Bureau of Labor Statistics.
The Federal Motor Carrier Safety Administration wants to make it easier for military veterans to transition into civilian careers in the truck and bus industry by simplifying the process of getting a Commercial Learner’s Permit or Commercial Driver’s License.
February volumes at the Port of Los Angeles (POLA) and the Port of Long Beach (POLB) continued the strong momentum that kicked off 2016 in January, according to data respectively issued by the ports last week. POLA and POLB are the two largest North American ports, and they collectively account for more than 40 percent of U.S. imports. As previously reported, West coast port volumes, especially in first half of 2015, had been uneven, as ports had to work through the backlog caused by the nine-month West Coast port labor dispute between the PMA and ILWU, which reached a resolution in the form of a new contract agreement that was reached last spring.
Chinese shipping majors Cosco Group, China Merchants Group and ICBC Financial Leasing Co. have placed orders for 30 giant Valemax vessels worth a combined $2.5 billion. The move will tighten Beijing’s grip on iron-ore shipments from Brazil over the next decade and increase pressure on Western shipowners struggling to find cargo in one of the industry’s longest ever downturns.
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Following a dismal February performance, Spring has sprung on the spot freight market, with rates moving higher in all three trucking categories for the first time in several weeks. The number of available spot market loads gained 12% for the week ending March 5 compared to the previous week.
Two top members of a United States Senate subcommittee for antitrust matters have sent a letter to the U.S. attorney general’s office voicing concerns over Canadian Pacific Railway’s proposed takeover of Norfolk Southern Corp. CP last week sent a petition to the U.S. Surface Transportation Board (STB) asking for a declaratory order confirming the viability of a proposed voting trust structure the company has suggested as part of the acquisition.
The U.S. economy added jobs in February, but not in trucking. Payrolls at for-hire trucking companies declined last month for the first time since October, shedding approximately 600 jobs, according to the U.S. Bureau of Labor Statistics. That pushed the JOC.com For-Hire Trucking Employment Index down from a reading of 101.3 in January to 101.1 in February.
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